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Stay Scam-Smart: Secure Holiday Shopping Tips for Fraud-Free Festivities!

Personal Finances 6 min read

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The holiday season is a time of joy, celebration, and unfortunately, increased risk of fraud. As we dive into holiday festivities, it’s crucial to stay scam-smart and safeguard your finances from potential threats. Stay informed, stay cautious, and enjoy the festive season without falling victim to scams or breaking the bank.

At First Bank, we believe in keeping you informed with “Good to Know” information that helps you with your financial future. In addition to our Fraud Resources Center, here are some additional tips and reminders to ensure your celebrations remain blissfully fraud-free.

Opt for Credit Over Debit

One powerful tool in your defense arsenal against fraud is your credit card, which, when used wisely, can offer an extra layer of security during holiday shopping. According to bankrate.com, in general, credit cards offer better fraud protection. Funds can be removed from your bank account directly and quickly when using a debit card, making the process of disputing and getting your money back much more time-consuming. If you use your credit card wisely and don’t spend more than you have available, you don’t have to worry about your checking account balance being affected if fraudulent transactions occur.

When shopping online or locally, consider using a credit card instead of a debit card. First Bank credit cards not only allow you to earn reward points for every qualifying purchase, but they also come with Zero Liability and Mastercard ID Theft Protection¹. You can enjoy real-time rewards this holiday season, feel confident you’ll only pay for the purchases you authorize, and have resources at your fingertips if you are a victim of identity theft.

1.) Mastercard ID Theft Protection requires enrollment. Enroll here.

First Bank Credit Card with Rewards being used on touchless payment pad. Coffee $15.60 Gasoline $45.11 Groceries $214.89
Platinum Credit Card with Rewards
Earn points to use towards rewards for every dollar you spend on qualified everyday expenses, like groceries, gas, and utilities.
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Shop Securely

Shopping safely online starts with ensuring the website you are using is secure. Scammers are smart and can make convincing “fake” websites designed to steal your information. There are a few quick ways you can check if a website is safe.

  1. Confirm the website has an SSL (Secure Sockets Layer) certificate – you can do this by simply looking for “https://” at the beginning of the URL and a lock icon on the far left side of the address bar.Web browser showing SSL connection in URL bar.
  2. Search for contact information – if a website doesn’t have obvious contact information, it could point towards the fact that its creators do not want to be contacted because they are potentially participating in something illegitimate.
  3. Be wary of grammar mishaps – a website that is full of spelling mistakes could point to the fact that it is not safe. Spoofed websites are designed to look convincing so you will provide your personal and financial information, but more than likely will contain grammatical errors.
  4. You are bombarded by pop-ups – an onslaught of pop-ups, especially those requesting your financial information, that are not in any way related to the website you are viewing can be another sign of an unsafe website.

While these are great reminders for checking whether a website is secure, it does not necessarily mean that a website is safe if you don’t see any of these. Stay smart and always remember that when in doubt about the security of a website, it is better to avoid it altogether rather than risk having your personal or financial information compromised.

Set Spending Limits

We’ve all done it, gotten carried away with holiday shopping because we keep finding great presents for our friends and family. Without setting a specific limit for your holiday shopping, you can easily go over what you should be spending. You can help prevent excessive spending and ensure your budget stays on track by establishing a set spending limit ahead of time.

All First Bank credit cards have the ability to control your spending by establishing specific limits for purchases. You can set alert notifications to receive real-time updates so you know when you reach your spending limit without having to think about how much you’ve already spent. In addition to being a helpful tool to stay in your budget, alert notifications can help you catch fraud earlier and help prevent it from snowballing.

 

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Spending screen from mobile app. Business transaction using First Bank credit card.
Track your cashflow with MyMoney.
Manage your budget, track your spending, and modify your payback plans for debts.
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Beware of Phony Phone Calls

Scammers know that fraud picks up around the holidays and they use that to their advantage by posing as bank representatives pretending to call or text you about potential fraudulent purchases on your account. One frequently used scam is when fraudsters call from an unfamiliar number and state that your credit card may have been compromised; even providing the last four digits on the card. It’s a scary situation, and one that’s all too familiar but here are some important reminders to conquer this type of scam.

  1. Start by taking a deep breath – fraudsters hope that you’ll be so overwhelmed by what they are telling you that you’ll inadvertently share the details that allow them to hack your card.
  2. Do not give out any personal information – no matter how legitimate the call may seem, you should not provide your personal information on a call that you didn’t initiate (this includes your credit or debit card number, bank account or social security numbers, or online banking login information).
  3. Hang up and call your bank directly – when in doubt, call us from one of our secure phone numbers instead of remaining on the original call you received. By taking control and reaching out to your bank via a secure connection you can feel confident that you are speaking to a real bank representative that can confirm whether the “fraud” the scammer claimed was happening on your account is real or not.
Happy Holidays from First Bank

Remember, a proactive and vigilant approach is key to ensuring a fraud-free celebration. At First Bank, we believe that by incorporating these credit card safety measures into your holiday shopping routine, you can enjoy a festive season with peace of mind. Stay scam-smart by utilizing your credit card to your advantage, double checking the websites you’re shopping on for security, staying on top of your budget, and keeping an ear out for phone scammers.

We’re here to support you and make your holiday shopping experience secure and joyful. Be sure to reach out to our Customer Support team or your local branch if you need assistance this holiday season.

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